Daikin says puts efforts to buy Goodman Global on hold

Reuters Staff

1 Min Read

TOKYO (Reuters) - Japan's Daikin Industries Ltd (6367.T) said on Friday that it has put on hold its efforts to buy U.S. air conditioner maker Goodman Global, citing the uncertain outlook for the Japanese economy following the March 11 earthquake.

Kaori Yamada, a spokeswoman for Japan's largest air-conditioner maker, said the company could reconsider the acquisition again in the future if the economic outlook becomes clear.

Daikin had said on January 14 that it was considering buying Goodman among other acquisition targets in what bankers estimated could be a $4 billion deal.

Shares of Daikin were up 5.4 percent at 2,625 yen. The Nikkei average .N225 fell 0.1 percent.